Some of Dr. Martin Luther King Jr.'s dreams have certainly come true. But when it comes to closing the economic gap between black and white Americans, we've got a long way to go.
Just three days before Kevyn Orr, the Emergency Manger appointed by Michigan Governor Snyder to run the fiscally strapped City, filed the largest municipal bankruptcy case in history, he signed a Forbearance Agreement with UBS and Bank of America/Merrill Lynch establishing a process to settle possible claims on default of $800 million of interest rate swaps.
Over the past four decades, business leaders have adroitly used that great American right, freedom of association, to advance their interests. They have banded together through groups like the U.S. Chamber of Commerce, the National Federal of Independent Businesses, and the Business Roundtable to create a unified front on a range of issues -- pooling hundreds of millions of dollars annually in membership dues for lobbying and advocacy. Beyond this, every last business sector in America has created its own trade association to push their particular interests.
As we wait for the Supreme Court to rule on McCutcheon v. FEC, which would strike down aggregate campaign contribution limits, a series of stories have come out highlighting how much damage money is doing to our democracy and our economy. In short: a lot.
Conventional wisdom among some liberals, conservatives, and moderates is that a "polarized Congress" will never update the Voting Rights Act. The Voting Rights Act bill introduced today in Congress (summary here, bill text here), however, shows that a bipartisan update is possible.
New Legislation Is Important Step Forward; Bill Can Be Strengthened
Representatives James Sensenbrenner (R-WI), John Conyers (D-MI), Steve Chabot (R-OH), Bobby Scott (D-VA), Spenser Bachus (R-AL), John Lewis (D-GA), Sean Duffy (R-WI) and others have introduced the Voting Rights Amendment Act of 2014, offering common sense fixes designed to modernize the Voting Rights Act (VRA). Demos President Miles Rapoport issued the following statement in response:
Monday is the national holiday honoring Martin Luther King Jr., and Tuesday marks the fourth anniversary ofCitizens United, the case that dramatically widened the flood of big money in elections. Their confluence is opportune, for while each seems to invite reflection on a different core social problem—respectively racial inequality and the power of concentrated wealth—each teaches lessons relevant to the other.
Two major stories of corporate misconduct toward employees hit the headlines yesterday: in the morning, low-wage federal contract workers filed a complaint with the U.S. Department of Labor alleging that more than 100 employees in the food court of federally-owned Union Station had been victims of wage theft—paid less than the minimum wage or denied overtime pay.
Eugenio Proto and Aldo Rustichini have written a new column for VOX in which they argue that once GDP per capita reaches a certain level, it actually begins to correlate with lower life satisfaction.
If you ask Cato's Michael Tanner, inequality is a non-issue for a bunch of reasons, including because it has nothing to do with unfairness. Tanner writes:
most wealthy Americans earned their wealth through talent and hard work. Roughly 80 percent of millionaires in America are the first generation of their family to be worth that much — they didn’t inherit their money.
Could Massachusetts become the next state to enact Election Day Registration? If today’s passage by the Commonwealth’s Senate chamber of omnibus voting bill S.1975 serves as indication, it very well could.
U.S. Bankruptcy Judge Steven Rhodes rejected a proposal by Detroit’s Emergency Manager Kevyn Orr to pay off a complex financial deal that was originated in 2005 and turned catastrophic for the city during the recession.
Here’s some welcome news. At his meeting with Democratic Senators last night, President Obama indicated that he is giving serious consideration to executive action designed to raise the minimum wage for employees of federal contractors, according to one Senator who was present.
One day after a top Obama administration official deflected a congressman’s call for executive action to raise labor standards for contractors, activists Wednesday announced the filing of a new Department of Labor complaint over alleged wage theft in a government building. The complaint alleges that dozens of workers in D.C.’s government-owned Union Station are owed over $3 million in back pay and damages for rampant failure to pay minimum wage or overtime.
One line of attack on a minimum wage hike is that it's small potatoes -- and further testament to the intellectual poverty of liberalism. As Marco Rubio said recently, speaking of both the minimum wage and other Obama proposals:
As the White House prepares to launch a major economic opportunity effort, record high unemployment among black and Latino youth underscores how essential it is to create job opportunities for young people of color.
The critical issue here is that the ages of 16 to 24 are make or break years for lifelong earning potential. With one out four blacks and one out of six Latinos under the age of 25 without work, a generation of youth of color risks falling behind.
Staging imaginary competitions between cities and their elected leaders certainly makes for catchy headlines: “Step Aside, New York City. Los Angeles's Populism Is for Real” asserts the title of Nancy L. Cohen’s recent piece in the New Republic.
Today's progressive coalition -- the one that elected Obama twice and just put Bill de Blasio in power -- looks a bit like a barbell: Lots of poorer voters on one side and lots of highly educated professionals on the other. Obama won the high school dropout vote by a landslide and also won post-grads by 13 points -- but lost to Romney among voters with a college degree. Likewise, de Blasio commands strong support among the upper middle class and the poor alike.
